Japanese Prime Minister Shigeru Ishiba announces his intention to resign during a press conference held at the Prime Minister's Office on the 7th. EPA=Yonhap News.  

Japanese Prime Minister Shigeru Ishiba, who had been facing mounting pressure to step down from within his ruling party following a defeat in the House of Councillors (upper house) election last July, has officially announced his resignation just 11 months into his term.

According to Kyodo News and the Nihon Keizai Shimbun, Prime Minister Ishiba stated during a press conference at the Prime Minister's Office on the afternoon of the 7th, "I have decided to step down as president of the Liberal Democratic Party (LDP)," adding, "I hope that the procedures to elect a new (LDP) president will begin."

In Japan, a change in the president of the ruling LDP effectively means a change in the prime minister. He explicitly stated that he would not run in the upcoming LDP presidential election.

Having suffered several defeats in previous LDP presidential races, Prime Minister Ishiba ascended to the highest office in Japanese politics after 38 years in public life, but he is now stepping down after only a year.

Prime Minister Ishiba explained that he felt now was the appropriate time to step down, with tariff negotiations with the United States having been concluded, and that he had made the decision to "pave the way for his successor."

Regarding the Japan-U.S. tariff negotiations, he added, "While this agreement has laid the cornerstone for securing our (Japan's) economic security and accelerating economic growth, it is not the final chapter."

"I am deeply ashamed that I failed to live up to the expectations of the many people who supported me in last September's LDP presidential election," he said, emphasizing that he bears responsibility for the defeat in the July upper house election.

However, regarding the LDP's "slush fund scandal," he noted, "We have yet to dispel public distrust," adding that this remains his "greatest regret."

During the press conference, while discussing his diplomatic achievements, Prime Minister Ishiba mentioned he had held a fruitful meeting with President Yoon Suk Yeol and emphasized the need for solidarity with various Asian nations.

"We have deepened the Japan-U.S. alliance and strengthened solidarity with friendly nations," he said, expressing his hope that the next prime minister would carry on these diplomatic policies.

Prime Minister Ishiba cited the passage of legislation related to "active cyber defense"—which allows for preemptive blocking when signs of a cyberattack are detected—and the expansion of the income tax exemption range as key administrative achievements, while expressing regret over his efforts regarding regional revitalization policies.

Reflecting on the past year, he said, "I do think about what I could have done better," while also stating, "I believe I did as much as I possibly could."

Reporters raise their hands to ask questions during Prime Minister Shigeru Ishiba's resignation press conference at the Prime Minister's Office in Tokyo on the 7th.

Prime Minister Ishiba had been under intense pressure to resign from within the LDP following a series of ruling party losses, starting with the House of Representatives (lower house) election last October, the Tokyo Metropolitan Assembly election this past June, and finally the House of Councillors election on July 20.

Although he had repeatedly stated his intention to remain in office, citing the need to avoid a power vacuum, he announced his resignation one day before the party was set to initiate a vote on holding an early presidential election, marking the first time the LDP has invoked its "recall" rules.

In this regard, the Asahi Shimbun commented, "He could no longer withstand the growing demands for his resignation from within the party and abandoned his plan to remain in office."

Prime Minister Ishiba stated that this decision was a "painful resolution," explaining that he feared a formal procedure to decide on an early leadership election would have caused deep division within the party.

In Japan's parliamentary system, the head of the majority party becomes the prime minister, and the LDP is currently the largest party.

However, since Prime Minister Ishiba took office, both the House of Representatives and the House of Councillors have shifted to a landscape where the opposition holds significant influence.

Prime Minister Ishiba is expected to step down once a new Japanese prime minister is chosen through the LDP presidential election and the subsequent prime ministerial designation vote in the National Diet.

Based on past precedents, the LDP presidential election is expected to take place as early as the latter part of this month or, at the latest, the middle of next month. When former Prime Minister Shinzo Abe announced his resignation on August 28, 2020, the LDP held a presidential election on September 14 to select former Prime Minister Yoshihide Suga as its new leader.

The prime ministerial designation vote is typically held a few days after the presidential election.

Possible leading candidates for the next LDP president include Minister of Agriculture, Forestry and Fisheries Shinjiro Koizumi and former Minister of Economic Security Sanae Takaichi.

Prime Minister Ishiba stated, "Until a new president is elected, I will faithfully fulfill my responsibilities to the people and entrust the future to the new president and prime minister."

Yonhap News